Table 112 -Refer to Table 11

question 121

Multiple Choice

Table 11.2
$$\begin{array} { | c | c | c | c | c | } \begin{array} { c } \text { Workers } \\\text { per Day }\end{array} & \text { Total Product } & \text { Marginal Product } & \begin{array} { c } \text { Total } \\\text { Revenue } \\( \$ ) \end{array} & \begin{array} { c } \text { Marginal } \\\text { Revenue } \\\text { Froduct } ( \$ ) \end{array} \\\hline 0 & 0 & - & 0 & - \\\hline 1 & 100 & & 1,000 & 1,000 \\\hline 2 & & 95 & 1,950 & 950 \\\hline 3 & 285 & 90 & & 900 \\\hline 4 & 370 & & 3,700 & 850 \\\hline 5 & & 80 & 4,500 & 800 \\\hline\end{array}$$
-Refer to Table 11.2,which shows the product price of a perfectly competitive firm and the output produced by the firm.Total revenue for the third worker is _____

• A)$10.
• B)$2,850.
• C)85 units.
• D)$900.
• E)450 units.

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Definitions:

Inputs

All the resources that go into a business.

Raw Materials

Basic substances in their natural, modified, or semi-processed state, used as inputs to a production process for manufacturing, finishing, or fabrication.

Producing Product

The process of creating, manufacturing, or assembling goods and services for sale to consumers.

Skills

The ability to do something well, typically gained through training or experience.